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TaxChain

Impact of TaxChain

Before Introduction of TaxChain

After Introduction of TaxChain

Social Problem We Worked On

We are worked on solving the problem of corruption and creating transparency in the country’s taxation system using Blockchain Tech. In the past few days we have seen the central government and state governments fighting over the shortage of supplies due to Covid. While the government's claim to be working citizens are unsure where their tax money is being used. Our idea is revolutionary as it will make this entire procedure transparent.

Brief Description of Idea

The main stakeholders in our idea are the Citizens, the government, constituencies and contractors. The government allocates funds to MLAs to work in their constituencies however often due to corrupt leaders and corruption at every stage in the process the money is not utilized properly for the citizens. We have decided to make the entire procedure transparent from paying taxes to where your money is being used by the government and constituencies, and from constituencies to contractors.

Flowchart

How BlockChain Helps Here?

The transparency and immutability of the blockchain helps achieve this aim. We have shifted all tax related transactions to a blockchain, due to which every single transaction taking place in the complete chain will be visible to every person of the country. This way, it will become much easier for the general public to keep track of the total tax collection, they will know whether their funds are being used well or not, hence implementing the required transparency.

Description of Working(Video)

https://www.youtube.com/watch?v=F7S3heQvFiU

Challenges We Ran Into

  1. Making the right structure for contracts in Blockchain.
  2. Integrating built in blockchain wallet with our website.
  3. Integrating React with Ethereum and Firebase.

Technologies Used

  • Solidity(Ethereum)
  • Portis by ShapeShift
  • React.js
  • HTML
  • CSS
  • Firebase

Use Cases and Future Scope

  1. Reducing Corruption and Creating Transparency
    TaxChain can help reduce corruption in India as it will make the entire process from tax collection, to how these funds are distributed and further used by the constituencies very transparent. Citizens will be able to know whether the funds allotted to their constituency are being used properly or not.
  2. Prevents Frauds
    It will help in reducing and avoiding frauds as anyone doing so can be caught easily. That's the advantage of blockchain technology.
  3. Tracking Money Allocated to Contractors
    Even the money a state govt entity allots to the contractors for various projects is well tracked. This can help keep track of exactly where they used the money, hence again reducing corruption.
  4. Relief for citizens
    Imagine knowing how the government is using your money? How awesome is that!

Instructions to Run

  1. Go to client folder: cd client
  2. Install node modules: npm install
  3. Start Server: npm start
  4. Go to http://localhost:3000
  5. You will be asked to login on Portis Wallet integrated with the website. Create and account on Portis and login.

Screenshots

Developers


Aastha
Agrim
Tushar